Prices skyrocket due to tight supply, higher demand

COLUMBUS – Gas prices took a 23-cent jump in Columbus over the weekend after Ohio drivers enjoyed one of the biggest price drops in the region.

The average price for a gallon of regular gasoline in central Ohio Monday morning was $2.37, according to a daily survey from the auto club AAA, the Oil Price Information Service and WEX, Inc. The statewide average price in Ohio was $2.32, 17 cents higher than a week ago.

AAA
AAA

Ohio was among three Midwestern states that posted double-digit declines on Oct. 26, according tot the auto club’s weekly gas price analysis, but Patrick DeHaan, of GasBuddy.com says, Midwest gasoline inventories hit their lowest level in nearly a year last week as refiners resumed production after extensive maintenance just as demand rose.

The auto club predicted regional pump prices would remain volatile due to fluctuations in supply and demand over the next few weeks. October was a historic month for planned refinery maintenance for the Midwest.

Nationally, the average price at the pump od $2.19 is the lowest since February.